Nabiullina stated that banning the digital ruble is not feasible., 2026/02/13 18:48:00

The European Union lacks legal grounds to restrict the free circulation of the digital ruble, stated Elvira Nabiullina, the head of the Bank of Russia. According to her, the digital ruble is merely another variant of the Russian currency, and “no one can prohibit it.”

Nabiullina noted that the digital ruble is the third form of the national currency, equal in status to cash and non-cash payments. 

“Attempts to impose a ban seem surprising, in my opinion. No one can prohibit a nation’s currency, and technologically, it cannot be disentangled either,” concluded the head of the Bank of Russia.

Nabiullina assured that “the project is progressing as planned,” with the infrastructure for utilizing the digital ruble nearly complete. Starting September 1, this third form of the national currency will be accepted in certain stores, and wallets can be opened at select banks, promised the head of the Russian financial regulator. She added that the Central Bank of Russia is in contact with unnamed authorities in countries where central bank digital currencies (CBDCs) already exist. 

Recently, Deputy Chairman of the Bank of Russia Vladimir Chistyukhin stated that the regulator intends to assess the feasibility of creating a Russian stablecoin. Although the official admitted that, overall, the regulator is against a state-backed stable token tied to the ruble, “considering the practices of several foreign countries, the Central Bank will evaluate the prospects and bring this to discussion,” Chistyukhin promised.  

In addition to the prohibition on the digital ruble, the 20th sanctions package from the European Union may include restrictions against banks that assist Russian companies in circumventing international restrictions through cryptocurrency.